Category Archives: *AskTaxMama Newsletter

AskTaxMama

Ask TaxMama Issue 640 – Happy Cinco de Mayo Weekend

Dear Family, I’ve spent the morning emailing back and forth with niece on the other side of the continent. There are secret goings on within the family to create a very special party and a present for the woman who needs nothing – my mom. Soon to be 90 years-old, she will be getting a […]

IRS Online Search Tool for Easier Check on Information About Exempt Organizations

Courtesy of the IRS WASHINGTON — The Internal Revenue Service has launched a new online search tool, Exempt Organizations Select Check, to help users more easily find key information about tax-exempt organizations, such as federal tax status and filings.

Courts Protect Taxpayer Basis and Audit Limits

Here are a couple of tax-related court cases you might find interesting. Attorney Ronald Marini writes about a very recent Supreme Court decision that limits IRS’ audit powers in a way you’ll like. The IRS is limited to three years to audit you or your business when it comes to determining the basis of anything […]

You’ll Melt Away

Once upon a time there lived a king. The king had a beautiful daughter, the princess. But there was a problem. Everything the princess touched would  melt. No matter what, metal, wood, plastic-anything she touched would melt! Because of this, men were afraid of her. Nobody would dare marry her.  The king despaired. What could […]

Ask TaxMama Issue 639 – TGIO

Dear Family, Well, Tax Season is all wrapped up – and many of you have hit the road. I can tell, since so many of your autoresponders are saying you’re gone for the next week or two. I don’t blame you. This year, for some reason, was particularly grueling. Some Tax Pros tell me they […]

Missed the Income Tax Deadline – IRS Offers Help for Taxpayers

Courtesy of the IRS The IRS has some advice for taxpayers who missed the tax filing deadline. Don’t panic but file as soon as possible.If you owe money the quicker you file your return, the less penalties and interest you will have to pay. Even if you have to mail us your return, the sooner […]

Honesty vs Practicality

One day, while a woodcutter was cutting a branch of a tree above a river, his axe fell into the river. When he began crying, God appeared and asked him, “Why are you crying?” The woodcutter told Him that he had dropped his axe into the water.

Afraid to Fly

Now that tax season is over (at least, phase I), today TaxMama® wants to treat you to a little fun.  Until now, I’ve preyed on your fear of taxes. Today, let’s play with your fear of flying.

Ask TaxMama Issue 638 – Happy Friday the 13th

Dear Family, Happy Passover. Still a couple of days left. Are you craving bread yet? Getting ready for the traditional pizza frenzy after the holiday is over. Soon. Soon. Meanwhile, get your tax questions answered – live. Call us this morning – TaxMama and Bob McCormick on his Money 101 show  on KFWB Los Angeles. […]

Managing Your Tax Records After You Have Filed

Courtesy of IRS Keeping good records after you file your taxes is a good idea, as they will help you with documentation and substantiation if the IRS selects your return for an audit. Here are five tips from the IRS about keeping good records.

Children Write to God

A teacher asked her class to write notes to God. Here are some of the notes the children handed in: Dear God: I didn’t think orange went with purple until I saw the sunset You made on Tuesday.  That was cool!

Ask TaxMama Issue 637 – Happy Passover and Easter

Dear Friends, Happy Passover Eve and Good Friday. The holy weekend is upon us. Many of you aren’t working – or have already left town. (Which explains the heavy traffic we heard about yesterday.) I wish you all a loving, noisy, friendly family weekend.  And please, if you know of friends or co-workers who are […]